The city of Nacala, in Nampula province, is today hosting the first auction in Mozambique of rubies from Montepuez, in Cabo Delgado province. The auction is being held as part of the Conference on Adding Value to Mineral and Energy Resources (CAVAME-d) and the eighth edition of the Nampula Annual Gem Fair (FAGENA). The fair was inaugurated yesterday by the Minister of Mineral Resources and Energy, Estevão Pale.
A total of four lots, weighing 30 kilograms in total, will be auctioned. By midday yesterday, four prospective buyers had expressed interest in participating in the auction.
Minister Estevão Pale inaugurated the stand displaying mineral resources and precious metals at Nacala International Airport and spoke with representatives of FURA Gems, a company that mines rubies in Montepuez, who confirmed that preparations for the auction were complete.
The amount expected to be raised at the auction has not been disclosed. However, a source close to the matter told Notícias that if the bidders’ offers do not meet expectations, the lots will not be awarded.
Pale encouraged producers to hold auctions in Mozambique, clarifying that this did not mean the authorities were banning auctions abroad, as has been the practice.
“Let auctions also be held in the country, so that the people can see the value, potential and transparency of the process. We want companies to start processing our material here, so that the population can see that their product is also traded on national territory,” he said, congratulating FURA Gems on agreeing to hold the auction in Mozambique. He added that the next step was to create a brand for Mozambican rubies.
Regarding the Nampula Annual Gem Fair, Pale said that incorporating the event into the CAVAME-d conference was part of the Government’s response to the need to process mineral raw materials locally, within the framework of the country’s industrialisation strategy.
Some of Mozambique’s gemstones and precious metals continue to be exported in raw form. The value added through cutting, certification, jewellery-making and marketing is consequently captured abroad.
Adding value means looking at the entire chain, from geological exploration and extraction to treatment, cutting, certification, marketing and jewellery-making.
Source: Notícias